The global automotive gaskets and seals market size is expected to grow from $15.22 billion in 2021 to $15.99 billion in 2022 at a compound annual growth rate (CAGR) of 5.08%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The automotive gasket and seal market is expected to reach $19.66 billion in 2026 at a CAGR of 5.30%.
What is the Global Automotive Gaskets And Seals Market?
The automotive gaskets and seals market consists of sales of automotive gaskets and seals products and related services by entities (organizations, sole traders, and partnerships) that manufacture automotive gaskets and seals. Gaskets and seals are automotive components that prevent the leakage of oil, coolant, and air between different areas of a vehicle such as engines. Gaskets are usually used as static seals to seal a connection between two components that have flat surfaces, whereas seals are used between engine parts that rotate. Both gaskets and seals offer high flexibility, reliability, strength, and resistance to extreme heat. They can also sustain extreme pressures, compressive loads, and temperature variations.
Get a Sample of the global automotive gaskets and seals market report
https://www.thebusinessresearchcompany.com/sample.aspx?id=5654&type=smp
What drives the Global Automotive Gaskets And Seals Market?
Increasing demand for electric vehicles is driving the automotive gaskets and seals market. Gaskets and seals are used in many EV applications such as battery packs to provide environmental sealing and insulation. As of 2020, there were 10 million electric vehicles on the roads globally. In 2020, global electric car sales reached about 3 million, with new electric car registrations increasing by 40%. Therefore, rapidly growing demand for electric vehicles is supporting the growth of the automotive gaskets and seals market.
Get the full global automotive gaskets and seals industry report here
https://www.thebusinessresearchcompany.com/report/automotive-gaskets-and-seals-global-market-report
Global Automotive Gaskets And Seals Market Segments
The global automotive gaskets and seals market is segmented:
By Material: Fiber, Graphite, PTFE, Rubber, Silicones
By Product Type: Gaskets, Seals
By End-Use: Automotive, Aerospace, Machinery, Electronics and Electrical, Marine and Rail
By Geography: The regions covered in the automotive gaskets and seals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Automotive Gaskets And Seals Global Market Report 2022provides market size and growth forecasts for the global automotive gaskets and seals market, global automotive gaskets and seals market share, automotive gaskets and seals market segments and geographies, automotive gaskets and seals market competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive gaskets and seals market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Automotive Gaskets And Seals Industry Players include Freudenberg, Elringklinger, Dana, SKF, Trelleborg, Tenneco(Federal-Mogul), and Flowserve Corporation. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
